There is a persistent wage gap between women and men of color in the United States. Pay transparency (i.e., the degree to which an organization shares pay information) can expose pay imbalances between workers, make employees aware of injustices, and encourage pay negotiation. This is particularly important because people from marginalized backgrounds (White women and people of racial minority groups) tend to negotiate less than White men (Babcock & Laschever, 2003). I reason that pay transparency in job advertisements can be an opportunity for women and men of color to develop a sense of justice and trust toward the organization, ultimately emboldening their pay negotiations. In this paper, I explored differences in negotiation intentions stemming from pay transparency in job advertisements as explained by perceptions of distributive justice and organizational trust. In this experimental study, I did not find distributive pay transparency to be a precursor to negotiation, but I found evidence for the importance of trust in the propensity to negotiate for women job applicants.